Canadians are a little more cautious about borrowing these days. Bank of Canada (BoC) numbers show household debt reached a new all-time high in May. Even though the balance is at a record high, the rate of growth is rapidly cooling. Canadian household debt grew at the slowest rate for May since 1983. Canadian Household […]
Canadian business insolvencies are picking up, after heading lower the past few years. Office of the Superintendent of Bankruptcy (OSB) data shows a rise in business insolvencies this year. The increase year to date marks the end of five consecutive years of fewer filings. Insolvency, Bankruptcy, and Consumer Proposals If you’re not familiar with insolvencies, […]
Canadian mortgage growth is showing minor signs of life. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record in May. The growth rate picked up from a month prior, but it was still the second slowest May in three decades. Canadians Owe Over $1.56 Trillion In Mortgage Debt Canadian mortgage debt […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada Lost 16,000 Jobs In May, Over 11,000 Were In Construction Canadian job numbers made an unusual decline in May, mostly due to a drop in construction. ADP employment numbers dropped to 16,519,461 jobs in May, down 0.10% from the […]
Canadians are falling behind on bills, and it gets worse as they assume more debt. Statistics Canada (Stat Can) released new data from their Survey of Financial Security this week. The data shows a significant number of households fell behind on their debt payments. The most interesting trend revealed is more debt relative to assets, […]
Screw HELOCs. Canadian homeowners in their golden years have a new favorite way to use their home like an ATM. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt jumped in April. Reverse mortgage debt is now at a new all-time high, and still posting above 20% growth. […]
Canadian real estate owners reached a new debt milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate reached a new high in April. The new high is the first-time in history the balance has passed the $300 billion mark. Loans Secured By Residential Real […]
Canadian real estate owners are paying a lot for the privilege of their debt pile. Statistics Canada (Stat Can) numbers show mortgage payments hit an all-time high in Q1 2019. Even with near record low rates, interest is rising faster than principal payments. Over half of all payments go towards interest, and the ratio is […]
One of Canada’s top credit bureaus warned of higher delinquencies in 2019, and here they are. Equifax numbers show consumer delinquencies are on the rise in Q1 2019. The move was expected by the firm, which stated in the previous quarter, that 2019 would see higher levels. The overall rates remain relatively low, however credit […]
Canadians are getting comfortable with debt levels, as household credit growth made a slight acceleration. Bank of Canada (BoC) numbers show the balance of household debt printed a new record in April. The new record high came with minor acceleration of the annual pace of growth for both mortgage and consumer credit. Canadians Had $2.18 […]
